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Investor Presentation 16.03.2012

Investor Presentation 16.03.2012. Safe harbor statement.

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Investor Presentation 16.03.2012

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  1. Investor Presentation 16.03.2012

  2. Safe harbor statement Certain statements in this slide show, including those addressing the Company’s beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. They are based on the assumptions, beliefs and expectations of our management team as of the date this slide show was prepared. Forward-looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate. Forward-looking statements may also be affected if our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. For additional information concerning other factors that may affect the Company’s current and future business, results of operations and financial condition, we suggest you review the Company’s filings with Borsa Italiana. The Company undertakes no obligation to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.

  3. Contents

  4. Management team Lorenzo Coppini: Chief Executive Officer (CEO) Simone Pratesi: Chief Financial Officer (CFO) Alessandro Pancani: Chief Technology Officer (CTO)

  5. B&C Speakers is... ... one of the largest and most prestigious electroacoustic transducer* manufacturers in the world; designing, developing and manufacturing only for the high-end professional audio market under its own ‘B&C Speakers’ brandname. Low-frequency Drivers: Low-frequency Nd Drivers: Company’s product mix includes low-frequency drivers, high-frequency drivers, coaxials and horns. High-frequency Drivers: Coaxials: Horns: * An electroacustictransduceris a devicethatconvertselectricalenergyintoacoustic (sound). Itis the principalcomponentof a speaker usedfor the reproductionofmusic, and iscommonlyknownas ‘loudspeaker’.

  6. Made in Italy... B&C manufactures all its products in its state-of-art production facility located in Bagno a Ripoli (Firenze) that was built in 2009. This 9,500 m2 production facility merged previously-separate production units into one single building, increasing assembly capacity and incorporating a higher level of automation. In addition, the Company runs its operations from its head-office building situated over a 3,000 m2 land very close to the production facility. 10% of B&C’s workforce (of 90 employees) is dedicated to Research & Development. B&C has sales and distribution centers in USA and Brazil: two important markets for its products. B&C has always focused greatly on quality control, which provided the company with the international reputation of providing leading edge products of the highest quality.

  7. B&C Speakers produces solely for… ... the professional audio market. B&C Speakers is the largest player in its focus market with a 14% market share. Its clients are professional audio system producers like Bose, Yamaha, Martin Audio, Nexo, D&B Audiotechnic, QSC Audio, L-Acoustics, Yorkville Sound, Turbosound...etc. Around 2/3 of the Company sales are custom-made products sold directly to these OEMs (Original Equipment Manufacturers), whereas the remaining part are catalog products sold via a wide distributor network with representation in over 70 countries around the world. Audio Market Home Auto-motive Musical Instruments Pro Audio HiFi Guitar 1o Installation Touring Contractor H.T. Portable After Market Fixed Installations P.A. Focus Market for B&C Speakers is estimated to be as big as €200 mn* * B&C Speakers estimates for 2011

  8. Revenue composition by product type 0.7 26.9 0.1 1.9 8.8 Loudspeakers 7.3 FY2011 - € mn 8.1 57% of FY2011 sales are created via LF Drivers

  9. Revenue composition by sales channel 26.9 FY2011 - € mn The share of custom-made products sold to OEMs -in the total turnover- increased in FY2011

  10. Geographical revenue breakdown 60% of FY2011 revenues are generated in Europe

  11. Revenue evolution € mn EconomicCrisis Growth (CAGR of 9.1% b/w ‘96 and 2011) B&C reached record-high revenues in FY2011

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  13. Industry Reshaping... Touring Segment: • The concert industry, which has reached a worldwide size of above $4 bn*, has been witnessing historically record-high growth rates (10-15%*) due toincreasingnumberofconcerts and increasing ticket prices. • Concert-ticket sales have become an increasingly significant source of revenue for musicians, as recorded music sales continue to plummet all around the world. • Concert listeners, having payed the high ticket price, expect to hear the best-quality music nearly identical to what’s on the artist’s CD. Musical Instruments: • Musical instrumentpurchasesdependgreatly on consumer confidence, thereforethissegmentof the audio market hashistoricallybeen more sensitive toeconomictrends. With the expected upturn in the economy, this segment is expected to grow parallel to the world economy in the following years. * Source: Billboard Magazine

  14. Musical Instruments... … constitute 77% of the professional audio market, with a size of c. €138 mn. Portable musical instruments market is estimated to be as big as c. €118 mn, whereas the guitar market is estimated to have a c.€20 mn size. B&C Speakers, in both of these two segments, is among the top 5 players. Musical Instruments is a very fragmented section of the market, 1/3 of which is dominated by ‘low quality-low price’ product manufacturers. Source: B&C Speakers Estimates, 2010

  15. Musical Instruments... … is estimated to be a market as big as c. €41 mn, and B&C Speakers is the undisputed leader in this segment. Source: B&C Speakers Estimates, 2010

  16. Speaker Market The focus market for B&C Speakers (Pro Audio and the Musical Instruments) is estimated to be as big as €200 mn* by 2011, and B&C Speakers is the market leader in this focus market with a market share of 14%. Source: B&C Speakers Estimates

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  18. FY2011 Summary P&L - Consolidated • FY2011 consolidatedrevenues up 18% YoY, from €24 mn in FY2010 to €28 mn in FY2011, due both to increasing sales volumes and product prices. • The significantimprovement in the toplinesupported the margins, and accordingly EBITDA margin in FY2011 improved 3p.p. from 20% in FY2010 to 23% in FY2011. • Profit beforetaxreached €5.6mn in FY2011 with a 33% YoYincrease.

  19. FY2011 SummaryB/S

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  21. 2012 • B&CSpeakersbudgeted total revenuesof €28.6mnfor 2012, with a yoyincreaseof 6%, • The valueof the Company’sorder portfolio by YE2011 is €7.04 mn, • Net debtasof YE2011 is at €0.4mn, • The price ofneodymium, a major raw material forB&CSpeakers, hasdecreasedstrongly (byaround 65%) after last year’sbubblethatmultiplied the price by 8x. This price decreaseissignificantfor the industry, and especiallyforB&CSpeakerswhois the leader in the production ofthosemostadvancedtransducers.

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  23. A divisionofB&CSpeakers ARCHITETTURA SONORA is rapidly emerging as one the most interesting audio brands in the market, leader in the outdoor acoustic sector, a synonym with design, innovation and made in Italy. Known for its multi-sensory approach to audio systems and to its architectural and organic aesthetics, ARCHITETTURA SONORA brings a great contribution to the advancement of the debate of sound space design.

  24. A divisionofB&CSpeakers Italia Austria Germany Belgium Israel Middle east Northern Africa India Poland Romania Portugal Spain France UK Slovenia Croatia Bosnia ARCHITETTURA SONORA at the moment has established a network of distributors and representatives in different countries around the world

  25. A divisionofB&CSpeakers • “Multisensory Immersiveness“ is the guiding philosophy of ARCHITETTURA SONORA, its way to imagine and design sound, a radical intuition that transformed deeply the way of conceiving sonic equipment based on man and his architectural or landscape surroundings. • Architettura Sonora main field of application are: • Architectural Sonic Modules • Contract Division • ASG (Automatic Soundscape Generation) • Sound Controlling Architettura Sonora products are applicable to urban gardens and parks, train stations, airports, hospitals, shopping malls, hotels and restaurants, providing these locations a highly efficient acoustic experience with an elegant architectural design.

  26. A divisionofB&CSpeakers Architectural Sonic Modules The distinctive shape of AS™ architectural sonic modules is conceived to be acoustically efficient and capable of focusing sound directly into specific areas; combining different sonic modules and their different directional properties allow to fully redesign the ACOUSTIC EXPERIENCE of any architecture, both indoors and outdoors.

  27. A divisionofB&CSpeakers ContractDivision Architettura Sonora Contract Division supports architects and designers with the know-how it gained not only over Sound&Experience Design's long experience in the architectural sound space design, but also through B&C sixty years of experience in professional audio components manufacturing. A.S. Contract Division can provide customized solutions even for the most intricate requests either for retail, institutional, residential or outdoor public spaces, emerging as the ideal partner to handle the many aspects of contract work.

  28. A divisionofB&CSpeakers A.S.G. (AutomaticSoundscapeGeneration) ARCHITETTURA SONORA designs and customizes audio software that is able to dynamically and musically inter-reacts with specific environmental conditions – such as crowded habitats, both indoor and outdoor, traffic congested areas or industrial environments. Our musically oriented NOISE MASKING system creates sonic islands within a chaotic world.

  29. A divisionofB&CSpeakers SoundControlling ARCHITETTURA SONORA has developed a Sound Control System, that incorporates a group of high quality and advanced electronic devices, all of which work together SYNERGICALLY to enhance the tuning and control of AS sound experience. They also allow the user to run it in the most efficient and intuitive way.

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  31. Stock data

  32. ShareholdingStructure

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  35. Contact Simone Pratesi CFO and Investor Relations Director Via Poggiomoro, 1 – Vallina 50012 Bagno a Ripoli (FI) Italy Phone: ++39 055 6572303 Email: spratesi@bcspeakers.com Company Webpage: www.bcspeakers.com

  36. Thank you!

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